Les Moonves Got A Cannonball For Christmas!

Les Moonves loses his pension. 

The CBS corporation has formally fired Leslie Moonves out the cannon. They also cancelled his golden parachute of $120 million.

Moonves, the former CEO of CBS used the company as his sexual playground.

The New Yorker's Ronan Farrow wrote a bombshell story about how Moonves sexually harassed and blackballed women.

Variety reports that the board concluded their investigation and determined that Moonves' behavior were cause enough for his firing. "We have determined that there are grounds to terminate for cause, including his willful and material misfeasance, violation of Company policies and breach of his employment contract, as well as his willful failure to cooperate fully with the Company's investigation. Mr. Moonves will not receive any severance payment from the Company," the board said in a statement.

Moonves deliberately lied to the CBS board and investigators.  He had evidence wiped from his iPad. He tried to be slick and handed off his young son's iPad to throw them off.

When Moonves was forced out of CBS in September, there was $20 million set aside for grants and the remaining $120 million set up in a trust.

Ronan Farrow detailed allegations by six women spanning from the 1980s to the 2000s. These fresh accounts of sexual misconduct include claims that Moonves forced women to perform oral sex on him and that he exposed himself to them without their consent.

The women's accusations were similar to those made by six other women, who claimed they were subjected Moonves' to unwelcome sexual advances and suffered professional retaliation when they rebuffed the now-disgraced television executive.

CBS board of directors said the investigators concluded that harassment and retaliation are not pervasive at the media company. However, investigators did find instances of "improper and unprofessional conduct" that were inconsistent with CBS' stated policies on creating a harassment-free environment.

The two law firms conducting the investigation, Debevoise & Plimpton and Covington & Burling, also found that the company's human resources department was lacking, noting it "did not hold high performers accountable" for their conduct or protect employees from retaliation.

The newly constituted CBS board and its acting CEO, Joe Ianniello, already have started making changes, including appointing a new chief people officer, Laurie Rosenfield.

Moonves could appeal the decision but it's highly unlikely he'll get much of his contributions back.

Moonves who is currently married to Julie Chen.

Chen would resign from The Talk after Moonves was forced out. She is currently the host of Big Brother and may eventually resign from CBS entirely in defense of her husband.